Friday, August 15, 2014

Expenditure Management Commission

Expenditure Management Commission has been set up by Prime Minister Narendra Modi. It will be headed by former RBI Governor Bimal Jalan. This commission will suggest the ways to reduce food, fertiliser and oil subsidies and narrow the fiscal deficit. The other members of this commission is former finance secretary Sumit Bose and former RBI deputy governor Subir Gokarn. Additional Secretary, Department of Expenditure, Ministry of Finance, will be an ex-officio member and a senior officer with finance/expenditure experience will be member-secretary